6949 South Green StreetChicago, IL 60621Price: $550,000

  • Price: $550,000
  • 50 Days on Market
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Federal 30-year interest rate: 5.25% last updated on May 19, 2022
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • 1922Year Built

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9.4% In-Place Cap Rate - Gross Income (w/ 5% Vacancy): $86,400 - NOI: $51,719 The CARE Group is pleased to exclusively offer for purchase the sale of 6949 S Green, incredibly spacious six (6) unit walk-up building located in the Greater Grand Crossing neighborhood of Chicago's South Side. The building sits on an quiet, tree-lined street nestled amongst an abundance of single family homes and brick duplexes and just a couple blocks west of the neighborhood's Hamilton Park - one of Chicago's premier parks featuring a swimming pool, baseball diamonds, basketball and tennis courts, and more. Additionally, the building sits in a federally recognized opportunity zone. 6949 S Green has an incredibly desirable unit mix comprised solely of spacious three bedroom units. All boast an abundance of natural light, and feature hardwood flooring throughout. 6949 S Green presents an investor a unique opportunity of acquiring a positive, cash flowing asset with an in place cap rate of nearly 10% along with incredibly minimal expenses. Furthermore, at the current market levels, the asset yields an immediate cash return approaching 20%. Additionally, the deal also presents an incredible value add component. Currently, identical units in the area are renting from $1,200 to $1,350. Solely by stabilizing the rent roll to consistent levels throughout, there is an opportunity to significantly increase yield.

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Listed by Christopher Anthony of Keller Williams ONEChicago

Based on information submitted to MRED  as of May 20, 2022 . All data is obtained from various sources and has not been, and will not be, verified by broker or MRED.   All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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